Treasury Secretary's Ethical Balancing Act: Divestiture in Focus

Scott Bessent, U.S. Treasury Secretary, divested his soybean farm to comply with an ethics agreement. The action addresses potential conflicts of interest, highlighted by his non-compliance reported to the Senate Finance Committee. Bessent's divestiture strategy involves completing asset sales by year-end to adhere to ethical commitments.

U.S. Treasury Secretary Scott Bessent, a pivotal player in President Trump's economic strategies, disclosed on Sunday the sale of his soybean farm interest. This move aligns with his ethics agreement, signed upon joining the administration, addressing potential conflicts of interest previously flagged by the U.S. Office of Government Ethics.

Bessent revealed to CBS' 'Face the Nation' that his involvement in the agricultural sector concluded with the sale. The New York Times highlighted his significant stake in North Dakota's farmland, once a substantial income source. Now divested, Bessent aims for full compliance with ethical standards.

His ethics commitments include divesting assets from his Key Square Group hedge fund. The Treasury Department confirmed most divestitures are complete, with the remainder scheduled by year's end. Bessent's actions underscore the administration's focus on maintaining ethical integrity.

(With inputs from agencies.)